Argentina Trade Balance October 2022

Argentina

Argentina: Merchandise exports decline in October

November 24, 2022

Merchandise exports plummeted 11.5% over the same month last year in October (September: -2.2% year-on-year). October’s figure marked the sharpest contraction since December 2020. Meanwhile, merchandise imports jumped 15.8% over the same month last year in October (September: +18.8% yoy), marking the weakest reading since January 2021.

As a result, the merchandise trade balance deteriorated from the previous month, recording a USD 0.0 billion in October (September 2022: USD 0.4 billion surplus; October 2021: USD 1.6 billion surplus). Lastly, the trend pointed down, with the 12-month trailing merchandise trade balance recording a USD 3.4 billion surplus in October, compared to the USD 5.0 billion surplus in September.

Panelists participating in the LatinFocus Consensus Forecast expect merchandise exports to increase 2.5% in 2023 and merchandise imports to expand 2.8%. For 2024, the panel expects merchandise exports to increase 4.4% and merchandise imports to grow 5.1%.


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Argentina Trade12m October 2022

Note: 12-month sum of trade balance in USD billion and annual variation of the 12-month sum of exports and imports in %.
Source: Argentina National Statistical Institute (INDEC) and FocusEconomics calculations.


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